Terry Serepisos-linked property goes to reserve-free mortgagee sale in Wellington

Prominent Wellingtonian Terry Serepisos. Photo / Mark Mitchell

The old family home of former developer, television host and football club owner Terry Serepisos has been advertised for mortgagee sale with no reserve.

Real estate advertisements cite High Court action as being behind the sale of the four-bedroom home in Wellington, with an additional one-bedroom flat, but note the property at 91 Nevay Rd, Miramar, is not available for open home visits.

“There will be no reserve at the auction, meaning this iconic home could become Wellington’s best buy. Strictly roadside viewings only,” the sellers advise.

The property is described as having “amazing sun, amazing views, amazing address”. According to property records, it has a rateable valuation of $2.38 million and is presently subject to two mortgages.

The property at 91 Nevay Rd has been advertised or mortgagee sale with no reserve.

Terry Serepisos lodged a caveat over the property in May last year.

After rapidly assembling a Wellington property empire two decades ago, and gaining a national profile from owning the Wellington Phoenix football club and a foray into television as host of the New Zealand version of The Apprentice, Serepisos was bankrupted in 2011, owning $203m.

The Nevay Rd property had long been the home of his mother Aliki Serepisos, who was herself bankrupted in 2020. A trustee company, Nevay Nominees, is listed as the current owner but it has been in liquidation since May.

The auction is scheduled to take place on Friday, October 27.